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32 Cards in this Set
- Front
- Back
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Annual Percentage Rate |
The annual rate that is charged for borrowing (or made by investing)
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Assets |
property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies.
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Available Credit |
the difference between the amount of the credit line or limit, and the amount that has already been borrowed |
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Average Daily Balance |
A credit card accounting method where interest charges are based on the amount owed at the end of each day. |
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Balloon Payment |
a repayment of the outstanding principal sum made at the end of a loan period, interest only having been paid hitherto. |
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Billing Date |
The interval of time during which bills are prepared for goods and services that a company has sold. |
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Charge Card |
a credit card for use with an account that must be paid when a statement is issued. |
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Collateral |
something pledged as security for repayment of a loan, to be forfeited in the event of a default. |
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Cosigner |
The act of signing for another person's debt which involves a legal obligation made by the cosigner to make payment on the other person's debt should that person default. |
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Credit Card Statement |
a summary of how you've used your credit card for a billing period. |
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credit Rating |
s |
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Debit Card |
j |
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Down Payment |
d |
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Electronic Funds Transfer Act |
g |
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Fair Credit Billing Act |
d |
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Fair Debt Collection Practices Act |
g |
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Impulse Buying |
f |
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Installment Plan |
x |
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Late Charge |
xd |
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Lending Institutions |
c |
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Life Insurance |
df |
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Minimum Payment |
gh |
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Payment Due Date |
df |
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Prepayment Penalty |
gt |
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Prepayment Privilege |
f |
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Previous Balance |
c |
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Promissory Note |
s |
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Revolving Charge Account |
s |
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Transaction |
x |
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Truth In Lending Act |
xd |
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Wage Assignment |
d |
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Wage Garnishment |
s |
